Trade Schnitzer Steel
Schnitzer Steel Industries, Inc. is an American steel manufacturer and scrap metal recycling company based in Portland, Oregon. Schnitzer Steel was founded by Russian immigrant Sam Schnitzer in 1906 as one person scrap metal recycling. Between 1947 and 1950, his son Harold Schnitzer worked for the company. By 1993, Schnitzer Steel had become a public company through an initial public offering. In January 2003, the company acquired Pick-N-Pool. In October 2005, the company acquired GreenLeaf car recycling companies, which will then be sold in 2009, and Regional Recycling, a metal recycling company with 10 locations in the southeastern United States. The following year, the company acquired Advanced Recycling.In December 2007, and the U.S. Securities and Exchange Commission accused former President and CEO Robert Philip of violating bribery laws as part of the Foreign Corrupt Practices Act in dealings with Chinese steel mills. Tamara Lundgren became CEO, and John Carter became President in November 2008. In January 2010, the Schnitzer family sold its shares so that its ownership of the company fell to less than 20%. In April of the same year, the company acquired Golden Recycling & Salvage, a recycling company in Billings, Montana.In 2011, acquired State Line Scrap, a recycling company in Atleboro, Massachusetts, and Ferrell Auto Parts in Seattle. By 2013, the company had moved its headquarters to downtown Portland, Oregon.